Third-party Risk Management Market Share

North American Market Statistics

The third-party risk management market in the North America region will have the biggest growth during the forecast period with a revenue share of around 48%. This growth will be noticed owing to the presence of eminent key players in this region. Approximately 90 percent of organizations on the list hail from the U.S. and Canada, against 5 percent from Brazil. Much like in the year 2022, the technology sector – taken by North American organizations – contributes to almost 28 percent of the complete list, trailed by financial services and health. The technology industry encountered quick growth as the coronavirus crisis strengthened and more people began working, shopping, and interacting through digital channels. For some organizations, expansion has now decelerated as the limitations have been elevated.

APAC Market Analysis

The third-party risk management market in the APAC region will also encounter huge growth during the forecast period and will hold the second position owing to the rising integration of cutting-edge technologies. To match these challenges head-on, 600 leaders from around APAC participated in Diligent Connections 2023 events in Manila, Singapore, and Sydney, prepared to study from one another and involved in the newest GRC trends, technology, and thought leadership shared around several panel sessions, fireside chats, and practical workshops.